For the past several weeks we’ve been looking at how certain trends are changing the insurance industry workforce. Today we’ll discuss how human resources executives are planning to respond to these trends.
In the past, most companies, including insurers, simply added employees to fill job vacancies or to keep up with an increase in business. But today’s technology and big data capabilities make it possible for businesses to envisage the kind of organization they need to be in the future, and to plan more accurately than ever for changes needed in their workforce to realize this vision. However, only a handful of them are taking full advantage of workforce planning. A 2011 study by Camden Delta Consulting found that only 3 percent of respondents had a fully implemented strategic workforce planning process as part of their “business as usual” operations.
This attitude is changing. A study by Aberdeen Group suggests that the aging workforce and other demographic and business pressures are making a case for workforce planning.
Because of the emphasis on modeling and projections, effective workforce planning must be a collaboration between HR, finance and the business. This coordination takes time, as does the piloting of plans before they can be implemented company-wide as the business’s new way of working.
Next week we’ll take a look at the reimagined insurance workplace and how it will look in the not-too-distant future.
What is your business doing to adapt to the changes in the insurance workforce? If you’d like to share your story, please leave a comment below or contact me so we can share success stories in upcoming blog posts.
For more information, register to download:The insurance workforce of the future: Why will so many insurers fail to achieve their digital potential?